17 August 2017 : 


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Credit Cards for Bad Credit

People who have struggled to manage credit in the past and run in arrears for payments on previous credit cards, personal/payday loans, mobile phone and other contracts, might find they have developed a 'bad credit rating'. Some imagine this means they are unlikely to be accepted for a credit card, but this is far from the truth. Indeed, obtaining and using a credit card well can be an excellent route back to re-establishing a good credit score and there are numerous products designed specifically for people with a poor credit score. Compare the best bad credit credit card products below to make sure you get the best credit card for you.



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Product Name Purchases
Intro
Minimum
Credit Limit
Representative
APR (variable)
Rewards
 
aqua Classic Product Details
Representative Example: Representative 29.7% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 29.75% p.a. (variable)
aqua Classic  Apply
 
marbles Classic  Product Details
Representative Example: Representative 29.7% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 29.75% p.a. (variable)
marbles Classic   Apply
 
Capital One Classic Platinum MasterCard Product Details
Representative Example: Representative 29.8% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 29.84% p.a. (variable)
Capital One Classic Platinum MasterCard  Apply
 
aqua Classic with 6 Months  Balance TransferProduct Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.95% p.a. (variable)
aqua Classic with 6 Months  Balance Transfer Apply
 
aqua Classic 0% for 4 Months on PurchasesProduct Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.95% p.a. (variable)
aqua Classic 0% for 4 Months on Purchases Apply
 
Ocean Credit Card Product Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
Ocean Credit Card  Apply
 
Marbles Classic with 5 Months  Balance TransferProduct Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.95% p.a. (variable)
Marbles Classic with 5 Months  Balance Transfer Apply
 
marbles Classic 0% for 5 Months on PurchasesProduct Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.95% p.a. (variable)
marbles Classic 0% for 5 Months on Purchases Apply
 
Capital One Classic Product Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
Capital One Classic  Apply
 
aqua Reward Credit Card Product Details
Representative Example: Representative 34.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 34.95% p.a. (variable)
aqua Reward Credit Card  Apply
 
thinkmoney Credit Card Product Details
Representative Example: Representative 35.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 35.94% p.a. (variable)
thinkmoney Credit Card  Apply
 
Luma Purchase Credit Card Product Details
Representative Example: Representative 35.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 35.94% p.a. (variable)
Luma Purchase Credit Card  Apply
 
Luma Credit Card Product Details
Representative Example: Representative 35.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 35.94% p.a. (variable)
Luma Credit Card  Apply
 
Black Diamond Visa Product Details
Representative Example: Representative 59.9% APR (variable). Based on a credit limit of £1,200 and a purchase rate of 59.94% p.a. (variable)
Black Diamond Visa  Apply
 
Safetynet Credit  Product Details
Representative Example: Representative 68.7% APR (variable) - Amount of credit £500. Interest rate: 0.8% per day for up to 40 days (292% per annum (variable)).
Safetynet Credit   Apply
 

 

compareandsave.com is a trading name of Freedom Marketing Ltd. Freedom Marketing Ltd is a credit broker, not a lender and is authorised and regulated by the Financial Conduct Authority, firm reference number 493117.

The offers that appear on this site are from companies from which compareandsave.com receives compensation. compareandsave.com does not include the entire universe of available financial or credit offers.

This table comprises a range of cards suitable for individuals who are looking to rebuild their credit score ranked by APR. Table position does not imply product strength or superiority. Please ensure you have thoroughly investigated all available options before applying for products.

 

 

 

 
 

Getting the Best Bad Credit Card

When people hear the term "Bad credit" they tend to assume the worst, but in reality there is nothing bad about Bad Credit credit cards. The term "Bad" only refers to the fact that these cards are designed for people at the lower end of Credit Ratings. Bad Credit credit cards tend to be for people with a bad credit history and who perhaps cannot qualify for standard credit card products. These cards typically carry a higher rate of interest than standard credit cards, as the provider mitigates the risk of non-payment. Some of the cards come with a relatively low credit limit, but if spending on the card is kept within the limit, and the balance is paid off each month, you could be in a better position of obtaining better credit products in the future. Bad credit credit cards sometimes come with great offers such as cashback, 0% on purchase offers and balance transfer deals. Compare the best UK bad credit credit card products and take your pick of the best deals.

Why should I get a Bad Credit credit card?

Bad Credit credit cards offer customers a number of benefits, but the specifics will be unique to each card. However, they all tend to have some common benefits. These include:

  • Paying the minimum monthly payment by a specified date will build your credit history which could improve your credit score.
  • Regular on time payments can see credit limits increased
  • Paying the minimum monthly payment on time sometimes enables people to get a reduction on their interest rate.
  • Even bad credit customers benefit from the same consumer protection as any other credit card holders - Essentially if one purchases faulty goods (of over £100), experiences non delivery or the retailer goes out of business, your card issuer is jointly liable for loses under the Section 75 of the 1974 Consumer Credit Act.
  • In some circumstances they can be a cheaper alternative to other forms of borrowing, such as pay-day loans or unauthorised overdrafts.

Understanding the disadvantages of Bad credit credit cards

Owning a Bad Credit card can come with some disadvantages:

  • As customers with bad credit are considered high risk, Bad Credit products tend to have higher interest rates than average, which means that they can be very expensive if used for any long term borrowing.
  • If the cards are used incorrectly - if you miss a payment or go over the credit limit; they will not help you improve your credit score.

Do Bad Credit cards help build credit?

The bad credit credit cards can help create a positive loan repayment history, if you successfully pay off a manageable debt each month and getting it noted on your credit file.

If you spend only what you can afford, it lets lenders know that you are a responsible borrower, making it easier to borrow money and get new credit in the future.

How do I compare Bad credit credit cards?

As bad credit credit cards typically have higher interest rates, it is important to be aware of the ongoing interest charges and be sure you are comfortable with the rate. There are a variety of cards on the market, so it is worth hunting around until you find one which is right for you. It is best to look out for other features like Balance Transfers or 0% Purchases, but remember that they come to an end and you should always have a plan for paying back what you owe before spending.



 Compare Credit Cards by Issuer

American Express Credit Cards American Express
Aqua Credit Cards Aqua Credit Cards
Barclaycard Credit Cards Barclaycard
Bank of Scotland Credit Cards Bank of Scotland
Capital One Credit Cards Capital One
Halifax Credit Cards Halifax
Lloyds Bank Credit Cards Lloyds Bank
MBNA Credit Cards MBNA
Nationwide Credit Cards Nationwide
NatWest Credit Cards Natwest
Royal Bank of Scotland Credit Cards Royal Bank of Scotland
Sainsbury's Bank Credit Cards Sainsbury's Bank
Santander Credit Cards Santander
Tesco Bank Credit Cards Tesco Bank
TSB Credit Cards TSB Credit Cards
Vanquis Credit Cards Vanquis
Virgin Money Credit Cards Virgin Money


 
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.

Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
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©2017 compareandsave.com is a trading name of Freedom Marketing Ltd.
Freedom Marketing Ltd is a credit broker, not a lender and is authorised and regulated by the Financial Conduct Authority, firm reference number 493117. This can be checked at http://www.fca.org.uk/register. Registered in England & Wales under registration number 05349340. The company's registered office is Freedom Marketing Limited, Colchester Centre, Hawkins Road, Colchester, Essex, United Kingdom, CO2 8JX.

The offers that appear on this site are from companies from which compareandsave.com receives compensation.

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